Economic Downturn Flexible work desired by younger generation Work anywhere Work any time Change of tasks Learn new skills

Crowdsourcing Simple tasks Project broken down into many tasks that are distributed Expertsourcing Requires expertise Sometimes requires certification or tests to pass before entry More complex and holistic

Contest Payment versus pay for performance(annuity stream) 99 designs Higher payment attracts more and better workers Only one person gets the prize money Hourly rate can be very low as you often receive nothing for your efforts Trada Performance based Make money every time you beat the advertisers goals Annuity streams Larger campaigns get better optimizers

In a marketplace gaining reputation for producing quality work is key: *Performance in marketplace- ranking, score etc *Education/training *Real world work experience *Earnings

The key to a crowdsourced marketplace is having the the right feedback loops to reward workers for: *Following Best practices *Engagement *Performance against objectives/goals This can be done through leaderboards and scoring

It is important in a marketplace that both the workers and the employers engage with each other to ensure that the right expectations are set and the workers get the right input to be able to meet the goals and objectives of the employers. It is important that the employers: Engage and respond with the workers in a timely manner Set achievable targets Provide a big enough prize or compensation that it makes the work worthwhile for workers with the right skill

Transcript of "Crowdsourcing Marketplace Overview "

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Why Crowdsource? <ul><li>Scale your business without hiring headcount </li></ul><ul><li>Manage peaks and valleys in your business cycle </li></ul><ul><li>Utilize excess labor capacity in crowdsourced markets </li></ul><ul><li>Get expertise in areas that: </li></ul><ul><ul><li>You do not have expertise in </li></ul></ul><ul><ul><li>Are not core to your business </li></ul></ul><ul><li>Automate manual and time consuming tasks </li></ul><ul><li>Employees learn new skills </li></ul>